Dynamic minimum deposit fee for BTC
Last updated
Last updated
When working with the BTC blockchain, CoinsPaid replaces the blockchain's mining fees with a package of predictable fees. To make this model sustainable, we need to update the fees whenever the network becomes too busy and the mining fees change too significantly.
We adopted the dynamic minimum deposit fee approach to keep your costs as predictable as possible.
With this approach:
we keep all fees fixed, except for the minimum deposit fee,
the minimum deposit fee changes predictably, based on public data,
the minimum deposit fee never changes more than one time every week.
Every Monday, we check the average mining fee in the BTC network for the previous week, beginning and ending at 00:00 UTC on Monday. You can observe this value in public BTC blockchain explorers, for example, on the Blockchain.com's Fees Per Transaction graph.
The average mining fee determines the new minimum deposit fee, according to the table below. If it differs from the last week's one, we notify all users about the planned change.
CoinsPaid switches to the new minimum deposit fee at 10:00 UTC on Wednesday.
| Level | Average fee per transaction, USD | Min deposit fee, EUR |
|---|---|---|
Level 1
0 - 7
1
Level 2
7 - 10
1.5
Level 3
10 - 15
2.5
Level 4
15 - 20
3
Level 5
20 - 25
5
Level 6
25 - 36
8